Dockwise Wins Offshore Installation Contract from CPOC

Dockwise has been awarded a contract for the float-over and installation of an offshore module by the Thai-Malaysian company CPOC (Carigali-PTTEPI Operation Company). The 19,000 tonnes topside (MDPP deck) will be transported and installed by Dockwise in 2009 in the Joint Development Area, the economic zone located offshore between Malaysia and Thailand in the Gulf of Thailand. The value of the contract is between US $25 and $35 million.

The contract enhances Dockwise's strategic goal of becoming a leading integrated transport and installation service provider for the Oil and Gas sector.

Mr. Andre Goedee, CEO of Dockwise Ltd, says: "We are very pleased that CPOC has awarded Dockwise this contract. Also, our recent acquisition of Offshore Kinematics Inc. (OKI) and Ocean Dynamics LLC (ODL) has contributed to obtaining this contract. The contract award illustrates the possible advantages of joining OKI and ODL's experience in the installation of offshore modules with our existing assets, namely our large open stern semisubmersible vessels, and our established engineering and project management capabilities. With this contract, management is further strengthened in its aim of developing Dockwise's float-over and installation business, along with its traditional heavy lift transport services."